Canadian Natural Resources Limited $CNQ Position Raised by Cardinal Point Capital Management ULC

Cardinal Point Capital Management ULC lifted its stake in shares of Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 0.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 232,120 shares of the oil and gas producer’s stock after purchasing an additional 520 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Canadian Natural Resources were worth $7,282,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. MAI Capital Management raised its stake in shares of Canadian Natural Resources by 9.6% during the first quarter. MAI Capital Management now owns 4,365 shares of the oil and gas producer’s stock valued at $134,000 after purchasing an additional 382 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Canadian Natural Resources by 8.7% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 5,613 shares of the oil and gas producer’s stock worth $176,000 after acquiring an additional 448 shares during the period. Verdence Capital Advisors LLC grew its holdings in Canadian Natural Resources by 0.8% during the second quarter. Verdence Capital Advisors LLC now owns 58,891 shares of the oil and gas producer’s stock worth $1,849,000 after acquiring an additional 460 shares during the period. Moody National Bank Trust Division grew its holdings in Canadian Natural Resources by 4.6% during the second quarter. Moody National Bank Trust Division now owns 11,081 shares of the oil and gas producer’s stock worth $348,000 after acquiring an additional 492 shares during the period. Finally, PDS Planning Inc grew its holdings in Canadian Natural Resources by 5.1% during the second quarter. PDS Planning Inc now owns 10,798 shares of the oil and gas producer’s stock worth $339,000 after acquiring an additional 520 shares during the period. 74.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CNQ shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Canadian Natural Resources in a report on Wednesday, October 8th. Zacks Research raised Canadian Natural Resources from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. Wells Fargo & Company raised Canadian Natural Resources to a “hold” rating in a report on Thursday, October 16th. TD Securities reaffirmed a “buy” rating on shares of Canadian Natural Resources in a report on Tuesday, September 30th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $62.00 target price on shares of Canadian Natural Resources in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Canadian Natural Resources Trading Up 2.9%

Shares of CNQ opened at $31.22 on Friday. The business’s 50-day moving average price is $31.36 and its 200 day moving average price is $30.89. The stock has a market capitalization of $65.16 billion, a P/E ratio of 11.07 and a beta of 0.97. Canadian Natural Resources Limited has a 1-year low of $24.65 and a 1-year high of $35.63. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.38.

Canadian Natural Resources (NYSE:CNQ) (TSE:CNQ) last issued its quarterly earnings results on Thursday, August 7th. The oil and gas producer reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.07. Canadian Natural Resources had a return on equity of 19.67% and a net margin of 19.00%.The firm had revenue of $6.39 billion for the quarter, compared to analysts’ expectations of $8.97 billion. During the same quarter last year, the business posted $0.88 EPS. Analysts expect that Canadian Natural Resources Limited will post 2.45 earnings per share for the current year.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 3rd. Stockholders of record on Friday, September 19th were issued a dividend of $0.4269 per share. The ex-dividend date was Friday, September 19th. This represents a $1.71 annualized dividend and a dividend yield of 5.5%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.42. Canadian Natural Resources’s dividend payout ratio is presently 60.64%.

Canadian Natural Resources Company Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).